Product Life Cycle Key Terms

Over the last week we have introduced the concept of the Product Life Cycle.  The class discussion focused around some key terms;

• Invention
• Innovation
• Obsolete

Can you think of products or services in your home that are good example these terms?  Please include a brief explanation with each example to illustrate your understanding.

You and the economy - doing your part for Canada!

We have been having some excellent discussions about money and business over the last two weeks. Well done!  Recently, we discussed consumer spending and its importance to Canada's economy. Tell me about how your spending helps local businesses and contributes to the Canadian economy? Give examples of your spending.